Onto Innovation (NYSE:ONTO) PT Raised to $250.00 at Evercore ISI

Onto Innovation (NYSE:ONTO) had its price target hoisted by equities research analysts at Evercore ISI from $235.00 to $250.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Evercore ISI’s price target indicates a potential upside of 11.99% from the stock’s previous close.

Several other analysts also recently issued reports on ONTO. StockNews.com upgraded Onto Innovation from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Benchmark boosted their price objective on Onto Innovation from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Needham & Company LLC reissued a “hold” rating on shares of Onto Innovation in a research report on Friday. B. Riley increased their price target on shares of Onto Innovation from $235.00 to $250.00 and gave the company a “buy” rating in a report on Friday. Finally, Stifel Nicolaus upped their price objective on shares of Onto Innovation from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, March 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.60.

Onto Innovation Trading Up 7.1 %

Shares of ONTO traded up $14.82 during midday trading on Friday, hitting $223.24. The stock had a trading volume of 592,391 shares, compared to its average volume of 437,517. Onto Innovation has a fifty-two week low of $86.04 and a fifty-two week high of $233.84. The business has a 50-day simple moving average of $186.05 and a two-hundred day simple moving average of $161.29. The firm has a market cap of $10.97 billion, a P/E ratio of 89.71 and a beta of 1.40.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.08. The firm had revenue of $228.80 million for the quarter, compared to analysts’ expectations of $222.60 million. Onto Innovation had a net margin of 14.85% and a return on equity of 10.95%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. On average, analysts expect that Onto Innovation will post 4.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Onto Innovation

In other news, CEO Michael P. Plisinski sold 40,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $175.48, for a total transaction of $7,019,200.00. Following the completion of the transaction, the chief executive officer now owns 235,492 shares of the company’s stock, valued at $41,324,136.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Yoon Ah Oh sold 1,685 shares of Onto Innovation stock in a transaction on Monday, March 18th. The shares were sold at an average price of $180.00, for a total value of $303,300.00. Following the transaction, the vice president now directly owns 14,913 shares of the company’s stock, valued at $2,684,340. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael P. Plisinski sold 40,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $175.48, for a total value of $7,019,200.00. Following the completion of the transaction, the chief executive officer now directly owns 235,492 shares of the company’s stock, valued at approximately $41,324,136.16. The disclosure for this sale can be found here. Insiders have sold a total of 47,170 shares of company stock valued at $8,266,955 in the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Onto Innovation

Several hedge funds and other institutional investors have recently made changes to their positions in ONTO. Fifth Third Bancorp boosted its holdings in Onto Innovation by 198.3% in the fourth quarter. Fifth Third Bancorp now owns 173 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 115 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in Onto Innovation during the 4th quarter worth about $28,000. Fidelis Capital Partners LLC acquired a new position in shares of Onto Innovation during the 1st quarter worth about $28,000. Huntington National Bank boosted its position in shares of Onto Innovation by 70.3% during the 3rd quarter. Huntington National Bank now owns 247 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 102 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Onto Innovation in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

About Onto Innovation

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.